- Inspection year
- 2021
- Report date
- 06-Oct-2022
- PCAOB release
- 104-2022-232
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 67%
- Part I.A deficiencies
- 9
- Part I.B deficiencies
- 9
- Report
- View PDF ↗
Deficiencies (9)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A6 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Significant Accounts | With respect to Certain Significant Accounts the firm did not perform any substantive procedures to test the significant accounts for one of the issuer's business units. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 2 | Significant Accounts | With respect to Certain Significant Accounts the firm did not evaluate whether cash flows associated with these significant accounts were presented in conformity with GAAP. (AS 2810.30) Financial statement audit only | AS 2810.30 | |
| 3 | Significant Accounts | With respect to Certain Significant Accounts the firm did not identify and appropriately address a GAAP departure related to the issuer's omission of certain required disclosures related to this business unit. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 | |
| 4 | Deferred Revenue | With respect to Deferred Revenue the firm did not perform any substantive procedures to test revenue and deferred revenue. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 5 | Accounts Receivable | With respect to Accounts Receivable the firm sent positive confirmation requests to the issuer's customers for a sample of accounts receivable. For the items in its sample for which the requested confirmations were not returned the firm did not perform alternative procedures that provided sufficient evidence that these balances represented valid receivable balances as of the confirmation date. (AS 2310.31) Financial statement audit only | AS 2310.31 | |
| 6 | Accounts Receivable | With respect to Accounts Receivable the firm did not perform any substantive procedures to test the collectability of accounts receivable. (AS 2301.08) Financial statement audit only | AS 2301.8 |
Issuer B3 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | With respect to Revenue the firm did not perform any substantive procedures to test revenue. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 2 | Equity-Related Transactions | With respect to Equity-Related Transactions during the year the issuer recorded various equity-related transactions that included stock-based compensation. The firm did not perform any substantive procedures to test these equity-related transactions. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 3 | Equity-Related Transactions | With respect to Equity-Related Transactions during the year the issuer recorded various equity-related transactions that included stock-based compensation. The firm did not evaluate whether the issuer's stock-based compensation disclosures were in conformity with FASB ASC Topic 718 Compensation — Stock Compensation. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 |